In the third quarter of 2026, central banks purchased gold at their fastest pace since the end of 2024, according to data from the World Gold Council (WGC).
Between July and September, net purchases totaled 321 tonnes, a 42% increase compared to the same period last year (226.3 tonnes). Year-to-date, central banks have acquired a total of 675 tonnes of gold.
The largest buyers to disclose their transactions in the third quarter were China and Poland, which purchased 63 tonnes and 41 tonnes, respectively. Russia, by contrast, was the only major seller, offloading 19 tonnes during the period, Bloomberg reports.
Bloomberg notes that central banks have been a key driver of a multi-year rally that pushed the price of gold to an all-time high in January 2026, when the spot price approached $5,600 per ounce.
Since the onset of the conflict involving Iran in late February, the price of gold has fallen by approximately a quarter. Rising energy costs have fueled expectations of a tightening in monetary policy: a negative factor for an asset that does not generate interest income, the agency observes.
source: bloomberg.com
